While we may have seen this news regarding the finalisation of the sale of the lease to AAM Investment Group the last half dozen lines indicates that serious works are starting to happen with the letting of contracts for work.
Neil0s posted the advertisement for the position of Senior Project manager for Project Sea Dragon I noticed that on the Celotti Workforce Facebook page there was another two positions advertised, that of an Executive officer and a procurement Manager. This looks like the tip of the iceberg for the serious commencement of work. Find the top project management then they are responsible to find the staff to fill the office positions under them. I would expect to see more positions advertised through Celotti Workforce in the near future.
NEW PROJECTS
DEC 20, 2018 AAM completes acquisition of Legune Station
The sale of Legune Station paves the way for Seafarms Group’s Project Sea Dragon, Australia’s largest aquaculture project.
The Northern Territory is set to become home to one of the world’s largest integrated, land-based prawn farms, with the announcement that CBRE Agribusiness has completed the novation of an option to acquire Legune Station.
Leading aquaculture producer Seafarms Group Limited successfully novated the option to purchase the circa 280,000ha property to the AAM Investment Group, an Australian owned agricultural investment and asset manager with a portfolio of diversified investments throughout the country.
Spanning 178,870ha in the Northern Territory’s east Kimberley Region, Legune Station was transacted on a Walk in Walk Out basis, including the associated Licence Area, which provided an additional 106,400ha. CBRE’s Geoff Warriner and Chris Holgar handled the transaction.
“The Legune transaction was an immensely complex transaction and marks the first of a series of acquisitions by AAM Investment Group in the Northern Territory,” Mr Warriner said.
Agricultural operational specialist AAM Investment Group will continue to run the large-scale cattle operation and invest further in property improvements to improve production capacity.
During the time that Seafarms held an option to buy the property it received all required approvals to commence development of Project Sea Dragon. The Northern Territory Government granted the aquaculture licence required for Seafarms’ grow out (production) ponds at Legune Station in July.
Seafarms said the finalisation of the sale contract provides the company with long term land tenure certainty and increases capital efficiency for the project.
Under Project Sea Dragon, Seafarms will develop a series of prawn farms across Northern Australia, each made up of a number of 10-hectare ponds where prawns are grown to a marketable size.
“The sheer size of Project Sea Dragon and the benefits the project will deliver to the local communities means it has achieved Major Project status by the Northern Territory, Western Australian and Australian Governments and once developed will provide an exciting new industry for Northern Australia,” said Mr Warriner.
Development of Project Sea Dragon has already commenced with on ground earth works at Legune Station as well as the commencement of initial works program sponsored by the Northern Territory Government for the upgrade of the Keep River Road. Allan King & Sons Construction Pty Ltd was awarded the contract for the ground earthmoving work programs.
Another Darwin-based company, Wallbridge Gilbert Aztec, has been appointed as engineering consultant for works at Legune.
SFG Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
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